how are you using your real estate upon retiring

[Heather U.]

I'll try to keep this short. Husband and I both 48. Plan to retire at 55 for sure.  We plan to have 8 sf rentals by then (currently have 5 bought within the last 2 years.) Each cash flows AFTER all expenses (including saving $200 each door per month for repairs etc..) at $200 per month. If we have 8 we still only have $1600 per month.  That is not enough to retire on!  We have other investments so this is nice extra income but not stand alone.  

So...what am I missing when people are say...in there mid 30's or 40's and say they have 5 or so properties and have retired on that money? Are they all paid off? Are they cash flowing A LOT more than ours?  

Thanks all, for you comments and explanations. Very curious to hear your thoughts.